The Nigerian naira is trading at different rates against the United States dollar across the official foreign exchange market and the parallel market on Friday, October 30, 2026.
In the official market, the dollar is quoted at approximately ₦1,347 per dollar, based on available exchange-rate data. Meanwhile, parallel-market dealers are quoting rates of about ₦1,375 to buy one dollar and ₦1,390 to sell, although prices may vary depending on location and the dealer.
Official Dollar-to-Naira Rate
Available market data puts the official exchange rate at approximately ₦1,347 to the dollar. The official rate serves as a benchmark for transactions conducted through authorized foreign exchange channels.
Black Market Dollar-to-Naira Rate
In the parallel market, commonly known as the black market, the dollar is reportedly trading at the following indicative rates:
- Buying rate: ₦1,375 per dollar
- Selling rate: ₦1,390 per dollar
These figures are not fixed nationwide. Rates may differ across Lagos, Abuja, Kano, Port Harcourt and other locations, depending on dollar supply, demand and individual dealers.
What This Means for Nigerians
The exchange rate remains important for businesses and individuals who depend on imported goods, international payments, school fees abroad, travel expenses and other dollar-denominated transactions.
Consumers and businesses are advised to confirm the prevailing rate with their banks or licensed foreign exchange dealers before carrying out transactions, as prices can change during the trading day.
Note: The figures above are indicative market quotations and may change. The official and parallel-market rates are separate and should not be treated as interchangeable.
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